Virginia Beach, Comcast still negotiating with team reported to be Kings

Jed Jacobsohn

Virginia Beach is close to settling on building an arena.

The president of Comcast is still negotiating to move an NBA team to Virginia Beach, according to Aaron Applegate of the Virginia Pilot.

The team being swayed to move is unknown, but it could be the Sacramento Kings, according to Applegate:

"We're still negotiating," said Peter Luukko, who runs the Philadelphia-based sports and entertainment company Comcast-Spectacor. "We're negotiating hard. We're making progress, but we're not there yet. We have a ways to go, but every day is a better day."

The city and Comcast are prepared to build the arena, but the project is at a "very critical" stage in terms of putting the pieces together, Applegate reported. To build the arena, the city is set to pay $241 million, the state will pay $150 million and Comcast will contribute $35 million.

The city council will decide next week "whether to move forward to the next stage of negations," according to Applegate.

The arena would seat approximately 18,500 and cost $350 million. The city would need $80 million "for team relocation fees," according to Applegate.

A proposal that came out in the end of November said "the Kings would be the main tenant" in the new facility, according to a story by CSN Bay Area.

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